System and method for betting on a subset of participants in an event
First Claim
1. A computer implemented method comprising:
- receiving one or more group bets at a computer system, each group bet designating a corresponding subset of the set of participants in the event, the subset including a plurality of participants but less than all participants in the event, and being a bet that pays if any one of the corresponding designated subset wins the event, the pay amount being substantially the same whichever participant of the designated subset is the winner and independent of finishes other than the winner;
receiving at the computer system, data representing results of the event identifying a winning participant from the set of participants;
receiving, at the computer system, data representing payment associated with one or more bets;
determining by the computer system, data representing an amount of a group bet payout for at least one of the group bets based on the group bets designated subsets of which the winning participant is a member; and
determining, by the computer system, whether to generate electronic signals to cause a physical dispense of the amount of the group bet payout at a physical dispense payment interface in communication with a self-service machine.
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Accused Products
Abstract
A method of managing bets is provided. The method includes receiving win bets and group bets. Each win bet includes a bet that a participant selected from a set of participants in an event will win the event. Each group bet includes a bet that one of a subset of the set of participants will win the event. Results of the event identifying a winning participant from the set of participants are received. An amount of a win bet payout for at least a portion of the win bets that comprise a bet on the winning participant is determined. An amount of a group bet payout for at least one of the group bets is also determined. In this manner, a bettor may bet on all participants in an event other than a particular participant, such as the favorite participant, and thus effectively bet against the particular participant.
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Citations
18 Claims
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1. A computer implemented method comprising:
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receiving one or more group bets at a computer system, each group bet designating a corresponding subset of the set of participants in the event, the subset including a plurality of participants but less than all participants in the event, and being a bet that pays if any one of the corresponding designated subset wins the event, the pay amount being substantially the same whichever participant of the designated subset is the winner and independent of finishes other than the winner; receiving at the computer system, data representing results of the event identifying a winning participant from the set of participants; receiving, at the computer system, data representing payment associated with one or more bets; determining by the computer system, data representing an amount of a group bet payout for at least one of the group bets based on the group bets designated subsets of which the winning participant is a member; and determining, by the computer system, whether to generate electronic signals to cause a physical dispense of the amount of the group bet payout at a physical dispense payment interface in communication with a self-service machine. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A computer system comprising:
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at least one processor; and a memory electronically coupled to the at least processor and having instructions stored thereon that when executed by the at least one processor direct the at least one processor to; receive one or more group bets at a computer system, each group bet designating a corresponding subset of the set of participants in the event, the subset including a plurality of participants but less than all participants in the event, and being a bet that pays if any one of the corresponding designated subset wins the event, the pay amount being substantially the same whichever participant of the designated subset is the winner and independent of finishes other than the winner; receive, at the computer system, data representing results of the event identifying a winning participant from the set of participants; receive, at the computer system, data representing payment associated with one or more bets; determine by the computer system, data representing an amount of a group bet payout for at least one of the group bets based on the group bets designated subsets of which the winning participant is a member; and determine, by the computer system, whether to generate electronic signals to cause a physical dispense of the amount of the group bet payout at a physical dispense payment interface in communication with a self-service machine. - View Dependent Claims (11, 12, 13, 14, 15)
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16. An article of manufacture comprising:
a computer-readable medium that is non-transitory, in which the computer-readable medium stores instructions which, when executed by at least one processor of at least one computer in electronic communication with a plurality of other computers via an electronic communications network, direct the at least one processor to; receive one or more group bets at a computer system, each group bet designating a corresponding subset of the set of participants in the event, the subset including a plurality of participants but less than all participants in the event, and being a bet that pays if any one of the corresponding designated subset wins the event, the pay amount being substantially the same whichever participant of the designated subset is the winner and independent of finishes other than the winner; receive, at the computer system, data representing results of the event identifying a winning participant from the set of participants; receive, at the computer system, data representing payment associated with one or more bets; determine by the computer system, data representing an amount of a group bet payout for at least one of the group bets based on the group bets designated subsets of which the winning participant is a member; and determine, by the computer system, whether to generate electronic signals to cause a physical dispense of the amount of the group bet payout at a physical dispense payment interface in communication with a self-service machine. - View Dependent Claims (17, 18)
Specification